YES BANK has signed a strategic Memorandum of Understanding with the India Brazil Chamber of Commerce, to enable significant cooperation in terms of Knowledge Partnerships, Project Consultancy, B2B Opportunities, Skill & Technology Initiatives including building ground for Innovative business integrations for businesses from India and Brazil. The strategic MoU signing comes in the run up to the 8th Annual BRICS Summit, to be held in New Delhi this year.
The core sectors covered in the MoU will be Sports, Media and Entertainment with special focus on IT, Infrastructure, Broadcast and Innovative solutions driven business opportunities. Further, YES BANK and IBCC will jointly endeavour to explore exchange of best practices in Sports goods Manufacturing, CSR in sports, SM&E talent management. IBCC will also recommend YES BANK as the Preferred Bank to Brazilian companies looking to do business in India.
Speaking about the agreement, Mr. Rana Kapoor, MD & CEO, YES BANK said, “The strategic grouping of Brazil, Russia, India, China and South Africa, represents the changing world economic order. As drivers of global economic growth and consumer demand, the BRICS partner nations are assuming greater global significance. India’s relations with its BRICS partners and Brazil in particular hold tremendous strategic importance and YES BANK, as India’s fifth largest private bank, endeavours to play a crucial role in facilitating foreign trade and investment amongst the partner nations. I strongly believe that this strategic partnership, built on common principles and shared goals, must transcend to a higher level of economic and cultural exchange between natural partners of choice”.
India-Brazil Chamber of Commerce, founded in 2003 in Brazil, is a non-profit organisation, which aims to foster the economic, cultural and tourism ties between India and Brazil, facilitating bilateral business and assisting its members in relevant matters, providing them its operational infrastructure and its knowledge of both cultures. The Chamber promotes imports-exports of Indian and Brazilian members offering quality customized services, through a professional team committed to the order of their members. The offices are in New Delhi (India) and Belo Horizonte (Brazil) to facilitate members on both sides.
Mr. Ashutosh Gupta, President, India Brazil Chamber of Commerce said, “The India Brazil Chamber of Commerce (IBCC) aims to foster the economic and cultural ties between India and Brazil, improving bilateral business and assisting its members in relevant matters, providing them a business environment to reach success on common targets. IBCC has been working throughout its 12 years of existence with a very diversified range of projects, since promoting of Bollywood in Brazil until bring over the Brazilian football to India, from the importation of Indian medicines until the exportation of Brazilian banking solutions, as too many others. The IBCC is honored to count on the support of the A. H India Consulate in Minas Gerais, where is located its headquarter in Brazil, and also has the institutional support of the Embassy of India in Brasilia, Embassy of Brazil in New Delhi, Consulate of Brazil in Mumbai and many partnerships with leading associations in both countries. Today we are more than pleased to sign this MoU, which consolidates the great and historical partnership with Yes Bank, a pioneer Bank that we always have been working jointly in favor to improve this bilateral relationship”.
The Scope of Collaboration of the MoU will broadly cover the following areas:
1. Knowledge partnerships: including with various industry bodies/chambers and at Brazil Government/ Embassy forums. IBCC and YES BANK will also create knowledge reports together by facilitating industry and Govt participation on the same.
2. Project Consultancy: Detailed Project Reports (DPRs) on entry strategies for Brazil companies in the Sports, Media and Entertainment space into India.
3. B2B Opportunities: Identifying the right business partners in India for Brazil companies for strategic/business tie-ups and for Indian companies interested in strategic tie-ups/investments in the Brazil. Assist in financing advisory covering strategic advisory, fund raising, direct & structured financing.
4. Skill Initiatives: Jointly facilitating imparting of soft skills in Sports, Media and Entertainment sector (to individuals / corporate / NGO community, education institutions etc)
5. Education in SM&E: Exchange program for education institutes in SM&E and imparting best global practices / education systems.
6. Introduction to existing Brazil companies in India: more than 13 Brazil companies are currently operating in India.
7. Preferred Banker status to YES BANK as well as Sports, Media and Entertainment Advisor recommendation to potential companies, looking at investing in/entering India for strategic partnerships with Indian entities
8. Introduction to companies in Information and Technology in SM&E: Would provide a platform for both companies in India and Brazil to showcase / exchange technology / knowledge
9. Introduction to companies in Infrastructure development in Sports: enhancement of state of the art infra installations in Media and Entertainment
10. SM&E Value chain analysis and trade policy advisory with Govt. and industry associations
11. Harness business opportunity specifically in Sports goods Manufacturing, CSR in sports, SM&E talent management
YES BANK also recently held the Inaugural B is supporting this strategic event as part of its Sports Banking Initiative with the objective to support and foster the development of sports at the grassroots level. The event, held at the Delhi University Stadium, saw healthy competition over 7 matches.
This tournament is a curtain raiser to the upcoming BRICS U-17 Football Cup 2016 that will also be held in India on the sidelines of 8th BRICS Summit. Promoting sports initiatives including football within BRICS nations is also a key part of the agenda laid out by Hon’ble Prime Minister Shri Narendra Modi to encourage cultural and sporting ties between partner nations at the 7th BRICS Summit 2015 held in Ufa, Russia.
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Large Bank of the World in India” by 2020.